Legacy Foundation, the community foundation serving Lake County is part of a network of Northwest Indiana foundations invited by the Lilly Endowment Inc., to apply for funding under Phase VI of the Endowment’s GIFT initiative. This generous program allows Legacy and Porter County Community Foundation, Unity Foundation of LaPorte County and Crown Point Community Foundation to collectively apply for up to $4.5 million as a match for new contributions to them through March 31, 2016. Qualified matching awards are determined by county populations. Legacy Foundation’s share is at $1.4 million; and Crown Point Community Foundation’s is $600,000. Porter County Community Foundation will qualify for $1.5 million and Unity Foundation will qualify for $1 million.
On July 16, the Endowment announced a sixth phase of its Giving Indiana Funds for Tomorrow (GIFT) Initiative for Indiana Community Foundations. Begun nearly 25 years ago, the GIFT initiative was designed to help local Indiana communities develop the philanthropic capacity to address their own needs and challenges. In that announcement, Lilly Endowment’s vice president for community development Ace Yakey said, “The success of Indiana community foundations over the intervening years has far exceeded the Endowment’s expectations when GIFT began.”
Since 1990, the number of community foundations has grown from about a dozen to a total of 94 funds throughout Indiana. Together they make grants to support local charitable organizations in all of Indiana’s 92 counties. During the same period, the aggregate value of the assets of Indiana community foundations that have regularly participated in GIFT has increased from about $30 million to nearly $2 billion, and those community foundations have paid grants totaling more than $915 million. The total amount the Endowment has provided over this time period for asset building grants has been approximately $258 million. “These impressive results would not have been achieved without the imagination, generosity, commitment and leadership of thousands of donors, volunteers and foundation staff members throughout the state. We are amazed at the Hoosier philanthropic spirit,” Yakey said.
Because the Endowment believes it is important for community foundations to have their own endowment funds to strengthen their communities, the matching incentives are more favorable for unrestricted gifts to support each foundation’s community fund. However, the match is also available for contributions to new or existing endowment funds. Each foundation is determining its specific plans for how best to meet the match taking into consideration the needs of their county and the philanthropic interests of their donors. The matching program began August 1, 2014 and will run through March 31, 2016 or until the match is met.
Carolyn Saxton, Legacy Foundation President said “In the 2014 edition of Giving in Indiana, Legacy Foundation was listed as one of the top 10 Indiana Community Foundations based on grant amounts it had distributed. This exciting Endowment initiative is a tremendous opportunity for Legacy to work with new and existing donors to support their philanthropic interests and expand Legacy’s grant making success.”
Nancy Clifford, Legacy Board Chairwoman said, “We are looking forward to building a stronger Lake County through grants that will be made possible through the funds that are generated from this GIFT initiative. Our plan for meeting the match will also give our Lake County not-for-profits the chance to build their endowments which will provide sustainable support to insure they have a strong financial future.”
As in past GIFT phases, technical assistance will be provided by the Indiana Philanthropy Alliance (IPA) through a grant from the Endowment.
The GIFT initiative will enhance each community foundation’s ability to build a culture of philanthropy that will positively transform Northwest Indiana. For more information please visit www.legacyfdn.org or call 219-736-1880.